Article | August 31, 2020

What To Look For In Cyber Risk Insurance

By Kirsten Bay

CMS Undersells Insurance Sign-Ups

After an incredibly damaging and costly run of high-profile cybercrime, many businesses may be relieved to learn they can purchase some protection in the form of Cyber Risk Insurance. With so many companies having their data held hostage of huge dumps of private information, who wouldn’t be a little scared that they might be next?

But like every new product category that emerges to meet a market need, it’s still a bit of the Wild West out there. There is a massive amount of variation and inconsistency among these policies. Even an industry professional could have a hard time keeping it straight, much less a small business owner who doesn’t spend their days consumed with IT issues.

The landscape of technology adoption is always evolving, as is the nature of the threats cybercriminals pose to businesses. This all only adds to the complexity and confusion around this topic.

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